Taxation policy post layoff
Layoffs are becoming common and they will go through the roof in the next two years due to AI and economy.
The least the government can do is not tax severance pay, benefits, and full and final settlement.
Individual taxpayers contribute more than corporates in the country.
This is all the more significant given that only about 2% of the population pays income tax.
Taxpayers don’t get proportional benefits from the government.
Not taxing severance pay would put more money in the hands of affected employees.
This is the least the government can do for taxpayers.
Can LocalCircles take this up? more
The least the government can do is not tax severance pay, benefits, and full and final settlement.
Individual taxpayers contribute more than corporates in the country.
This is all the more significant given that only about 2% of the population pays income tax.
Taxpayers don’t get proportional benefits from the government.
Not taxing severance pay would put more money in the hands of affected employees.
This is the least the government can do for taxpayers.
Can LocalCircles take this up? more
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This is a good suggestion. I had suggested that personal income tax should be abolished completely. This will save millions of man hours wasted in accounting for TDS and its compliance. The personal income tax was introduced by British Govt. not for earning revenue but to have control on employees. Present Govt. is collecting enough money from GST and Corporate Tax to manage affairs of the country and subsidies. more
Oct 26
Yes, I am in support of this suggestion. And Government and other Institutions must help in finding out more opportunities for the affected. This is a serious problem which may lead to some social upheavals. We must address this issue on war footing. more
Oct 26
